Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christopher Lahiji resigned as member of the Board at SRAX, Inc..
- Action
- resigned
- Role
- member of the Board
Exact text from the filing
On March 3, 2023, in connection with the consummation of the Merger, Christopher Lahiji, President of LD Micro and member of our Board, resigned as a member of the Board pursuant to a resignation letter, effective immediately.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
SRAX, Inc. completed a disposition involving Freedom Holding Corp. (Parent), Freedom U.S. Markets, LLC (Buyer), LDM Merger Sub, Inc. (Merger Sub) for $8,300,000 in consideration, consisting of $4,000,000 in cash and 59,763 shares of the Parent's common stock (closed 2023-03-03).
- Action
- disposition
- Counterparty
- Freedom Holding Corp. (Parent), Freedom U.S. Markets, LLC (Buyer), LDM Merger Sub, Inc. (Merger Sub)
- Consideration
- $8,300,000 in consideration, consisting of $4,000,000 in cash and 59,763 shares of the Parent's common stock
- Closing
- 2023-03-03
Exact text from the filing
Section 368(a) of the Internal Revenue Code of 1986, as amended. At the Closing, as consideration for the sale of LD Micro by means of the Merger, the Buyer paid the Company $8,300,000 in consideration, consisting of $4,000,000 in cash (the “Cash Payment”), and 59,763 shares of the Parent’s common stock, par value $0.001 per share (the “Parent Common Stock”),
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SRAX, Inc. entered into Agreement and Plan of Merger with Freedom Holding Corp., Freedom U.S. Markets, LLC, LDM Merger Sub, Inc. (effective 2023-03-03).
- Action
- entry
- Agreement
- merger
- Counterparty
- Freedom Holding Corp., Freedom U.S. Markets, LLC, LDM Merger Sub, Inc.
- Effective
- 2023-03-03
Exact text from the filing
On March 3, 2023 (the “Closing Date”), SRAX, Inc. (the “Company”) entered into and consummated the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) with Freedom Holding Corp., a Nevada corporation (the “Parent”), Freedom U.S. Markets, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Parent (the “Buyer”), LDM Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Buyer (“Merger Sub”), LD Micro, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“LD Micro”), to sell LD Micro, a small cap platform and conference provider.
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